Prof. Stanley Fischer

Prof. Stanley Fischer was born in Zambia in 1943. He earned a PhD in economics from MIT in 1969. He held academic posts at the University of Chicago and MIT, and authored three popular economics textbooks. He held the post of Vice President, Development Economics and Chief Economist at the World Bank, and later became First Deputy Managing Director of the International Monetary Fund (IMF). In 2001, Prof. Fischer joined the Group of Thirty, an influential Washington-based financial advisory body. After leaving the IMF, he served in various senior positions at Citigroup.
In 2005, Prof. Fischer was appointed Governor of the Bank of Israel, and was sworn in for a second term in 2010. Under his management, the Bank of Israel was ranked first among central banks for its efficient functioning, according to IMD's World Competitiveness Yearbook. Prof. Fischer has earned plaudits across the board for his handling of the Israeli economy in the aftermath of the global financial crisis.
In 2011, he applied for the post of IMF managing director to replace Dominique Strauss-Kahn, but was barred as the IMF stipulates that a new managing director must be no older than 65, and he was 67 at the time. That year, midway through his second term as Governor of the Bank of Israel, he stepped down.
In January 2014, United States President Barack Obama nominated Prof. Fischer to be Vice-Chairman of the U.S. Federal Reserve System, saying, “He is widely acknowledged as one of the world’s leading and most experienced economic policy minds.”

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